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Wednesday, 20 May 15
IRON ORE PRICES TO REMAIN WEAK ON LOW DEMAND, HIGH OUTPUT - FITCH
 Iron ore prices will stay low for several years due to increasing supply, weak demand growth in China and the slower-than-expected closure of high-cost mines, Fitch Ratings says.
We expect market leaders BHP Billiton, Rio Tinto and Vale to continue increasing production in 2015 despite falling prices, as they are also the lowest-cost producers. This is likely to outweigh the impact of any shut-downs among higher-cost producers in the near-term. We also expect annual growth in Chinese crude steel production to slow to around 1% or less in 2015.
These factors are reflected in our recent decision to cut the price assumptions we use for rating purposes. Our iron ore spot price assumptions on a cost and freight basis are now USD50 per tonne in 2015 and 2016, compared to USD65 and USD75 previously. We have also lowered our long-term price assumption to USD70 from USD80.
In the short-term, prices are also likely to remain volatile as markets reassess their expectations for Chinese steel output, the rate at which higher-cost producers are forced to exit the market and a potential slowing of capacity growth among the major iron ore producers.
The rate of shut-downs among higher-cost producers has been slowed by cyclical cost reductions as cost pressures in regions such as Western Australia have fallen. The drop in oil prices has also helped ease pressure on some miners and means that overall companies will stay in the market for longer. Government efforts to support the industry, including a halving of the resource tax on domestic iron ore producers, should also slow the rate of iron ore mine closures in China in 2015.
Other high-cost producers, particularly state-owned companies, are also likely to continue operating despite having costs well over USD50 a tonne. In the fourth-quartile of the cost curve, we expect companies with nearly 100 million tonnes of annual production to continue operating. This will transfer some pressure to miners in the third-quartile, which includes smaller higher cost Australian producers and also companies such as African Minerals and London Mining in West Africa.
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Monday, 01 June 15
35,000 MW POWER PLANTS TO BOOST COAL CONSUMPTION - JP
The government’s program to develop 35,000 megawatt (MW) power plants will increase domestic coal consumption, which currently stands at arou ...
Monday, 01 June 15
API 5 FOB NEWCASTLE COAL SWAP; Q1'16 CLOSED LOWER COMPARED TO Q3'15
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery gained US$ 0.36 per MT (0.80%) month over month. The swap was closed at US$ ...
Monday, 01 June 15
CFR SOUTH CHINA COAL SWAP: GAINED W-W, M-M; Q1'16 CLOSED HIGHER THAN Q3'15
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery up US$ 1.15 (2.26%) per MT month over month.
A commodity swap is a f ...
Sunday, 31 May 15
CAPE AND PANAMAX SEGMENTS SLIDE CONTINUES
COALspot.com: The BDI was up about 0.5 pct week on week and closed at 589 points while the cape index was fell 0.73 pct and closed at 810 po ...
Friday, 29 May 15
DRY BULK MARKET IS THE VICTIM OF A SHIFT IN DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The fall in dry bulk freight rates is attributed, in large part, to the substantial decrease of China’s thermal coal imports, a major commodi ...
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- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- The University of Queensland
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
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